The government of the Russian Federation will allow owners of shopping centers to terminate early lease agreements with retailers leaving the Russian market from hostile countries.
«We intend to give landlords the right to terminate lease agreements with companies related to hostile countries early,» said Russian Prime Minister Mikhail Mishustin at a meeting of the presidium of the government commission to improve the stability of the Russian economy subject to sanctions.
He explained the government’s decision by the fact that the owners of the shopping center now receive less money due to the closure of retail chains in the event that the rent is linked to the tenant’s income.
“Earlier, in the text of the contract between the owner and the tenant, there was often a clause saying that the amount of payments would depend on the store’s revenues. Now this leads to unpleasant situations: some foreign companies that stop work for political reasons are in No rush to leave the premises, the sign is hanging and the rent is not going to the owners because there is no income, Mishustin explained.
— As a rule, this applies to relatively large tenants, and the losses of the owners of the premises are also significant — stressed the head of the government, informs Interfax.